banking & finance
Under an amendment to the Bankruptcy Law, the position of a lender holding an assignment of the borrower’s receivables in the event of the borrower’s bankruptcy has changed, but the application and effects of the amendment in practice remain unclear.
A business may enter into an agreement assigning its receivables to a securitisation fund, but effective assignment of claims of title to generically identified sold goods may require notice to the buyer.
On 1 March 2011 the Polish Constitutional Tribunal examined the constitutionality of Art. 95(1) of the Banking Law, which gives bank statements the evidentiary weight of official documents.
Information published on the website of the Polish Financial Supervision Authority (KNF) shows that the KNF takes full advantage of its authority to impose fines for failure to play by the rules on the financial markets.
“Collection of items and rights” subject to a registered pledge should be interpreted in light of the economic purpose
The Polish Supreme Court upheld a cassation appeal presented by Wardyński & Partners and held that when evaluating whether a changing collection of assets may be subject to a registered pledge…